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HOME Down Payment Assistance

Greenville, North Carolina

Last verified
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Income limit

80% AMI

Of area median income; varies by county and household size

Price cap

$150,000

Highest purchase price the program allows

Repayment

Forgivable

Forgiven after 5 years

What is HOME Down Payment Assistance?

HOME Down Payment Assistance is a deferred second loan for homebuyers in Greenville, North Carolina.

  • City of Greenville HOME-funded DPA: up to $10,000 deferred forgivable second for FTHBs at/below 80% AMI within Greenville. Sales price cap $150,000. 5-year HOME affordability period.
  • City of Greenville HOME Down Payment Assistance: up to $10,000 in DPA for income-qualified first-time homebuyers (at or below 80% AMI Pitt County) purchasing within Greenville city limits. Sales price cap $150,000 (existing only - more restrictive than the 10% Loan program). 0% deferred forgivable second.
  • 5-year HOME affordability period. Pairs with NCHFA, FHA, VA, USDA, Conventional.
  • Funding comes from Federal HOME and Local Government.

Do you have to pay it back?

HOME Down Payment Assistance is forgiven after 5 years, so a buyer who stays that long does not repay it.

  • Repayment is triggered by Deferred 0% and forgiven prorated over 5-year HOME affordability period. Balance due on sale/transfer/refinance/non-owner-occupancy during term.
  • The assistance is recorded in 2 position.
  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

HOME Down Payment Assistance is open to first-time homebuyers and buyers who will live in the home as their primary residence.

The program requires

  • First-time homebuyer — with exceptions: Standard FTHB requirement; displaced homemaker / single-parent exceptions per HUD.
  • The home is occupied as a primary residence
  • On credit: Generally 640 minimum (per first-mortgage product).
  • A completed homebuyer education course, through HUD-approved housing counseling agencies including Greenville Community Development counseling and OnTrack WNC.
  • Residency: Property must be within Greenville city limits and serve as primary residence.
  • Citizenship or immigration status: U.S. citizen or eligible non-citizen (per HUD HOME rules).
  • First-time homebuyer (no primary-residence ownership past 3 years). Owner-occupied primary residence within Greenville city limits. Household income at or below 80% AMI Pitt County (FY2025: 1-person $42,000 to 8-person $88,800). Maximum sales price $150,000. Property must pass HQS inspection; pre-1978 properties require lead-based-paint risk assessment. 8-hour HUD-approved homebuyer education plus 1-on-1 counseling. Minimum $1,000 buyer contribution.

The program excludes

  • Manufactured homes
  • New construction
  • Purchases above the $150,000 price cap
  • Households above 80% of area median income

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

What are the income limits?

HOME Down Payment Assistance limits household income to 80% of the area median income, which varies by county and household size.

  • Household income at or below 80% AMI Pitt County. FY2025: 1-person $42,000 to 8-person $88,800.
  • The limit applies to total household income, not only the borrower’s.
  • The program lists a maximum household size of 8.
  • Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

HOME Down Payment Assistance caps the purchase price at $150,000.

  • Eligible property types include Single-family detached, Townhome, and Condominium.
  • New construction is not eligible.
  • Manufactured homes are not eligible.

Where does it apply?

HOME Down Payment Assistance serves buyers purchasing in Greenville, North Carolina.

How do you apply?

Applications for HOME Down Payment Assistance go through the administering agency, which publishes the current terms and the application steps on its own site.

  1. Take a homebuyer education course

    Required by the program, through HUD-approved housing counseling agencies including Greenville Community Development counseling and OnTrack WNC..

  2. Contact the administering agency to reserve funds

    Funds are reserved through Apply directly to City of Greenville Community Development., and are subject to availability.

  3. Work with a lender who handles the program

    Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.

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